In accordance with Coinomedia, BNB Chain validators are proposing to cut gas fees from 0.1 Gwei to 0.05 Gwei, reducing transaction costs to around $0.005. The proposal also includes shortening block intervals from 750ms to 450ms to improve speed. These changes aim to keep BNB Chain competitive with other fast, low-cost blockchains like Solana and Base. Past fee reductions have led to a 140% increase in daily transaction volume, reaching over 12 million transactions per day. A new principle is also being proposed: continue lowering gas fees as long as staking APY remains above 0.5%. The long-term goal is to bring transaction costs down to $0.001.
BNB Chain Proposes Halving Gas Fees to 0.05 Gwei
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